There is always an element of price action driving investment decisions, but today it seems to have hit unprecedented levels. The relief is palpable. People are getting bullish again, but so many of the bullish comments seem to start with the fact that stocks are up today. There were some investors who were happily long coming into this week, there were even some who were short at the start of last week and turned into bulls at some time last week (hats off to them). What is bizarre is how many people who were nervous longs last week, suddenly feel comfortable. If stocks were down 5% would they still be so bullish?
http://www.zerohedge.com/news/guest-post-market-so-investors-are-bullish-and-why-eurobonds-wont-work
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